The word 'faggot' isn't really used that way online. I'm openly bisexual, (and many other users are also openly gay or bisexual) and no one has treated me any differently. Rarely is the word faggot used to describe a gay person, it's more often used to describe someone who's, well, being a faggot.
Example: "Hey faggot, no one cares about your youtube videos, stop whoring them on the BBS."
As for the N-word, no one in this generation, even black people, knows what that word entails. The meaning is still derogatory, but holds little of its former meaning.
Also, it's the internet. People tend to not give a fuck.